7697 Winchester Rd Memphis, TN 38125-2202

Property Details for 7697 Winchester Rd

Year built

2005

Lot size

15.17 lot acres

Property size

124,287 SF

Zone code

CA

Property type

Outlet malls

APN

D02-42 - - -00415-C

APU

D024200415C

Description

This exceptional investment opportunity presents a 124,102-square-foot At Home storefront located at 7697 Winchester Rd, Memphis, TN 38125. The property boasts a 100% occupancy rate with a corporate-guaranteed, absolute NNN lease expiring February 27, 2034, providing a remaining lease term of 9.3 years. The current annual net operating income (NOI) is $754,675, yielding an attractive 11.00% cap rate. The asking price is $6,860,000, translating to $55.28 per square foot. Built in 2005, this single-story building sits on a 15.16-acre lot and includes 588 parking spaces. The lease includes 2% annual rent bumps. The property benefits from high visibility and accessibility on Winchester Road, with a daily traffic count of 32,225 vehicles. It's situated within a dense retail corridor, boasting 2.2 million square feet of retail space within a one-mile radius. The surrounding area demonstrates strong demographics, including an average household income of $110,118 within a five-mile radius and a population of 182,321 residents. Its proximity to major employers, including Saint Francis Hospital and the University of Memphis, further enhances its appeal. The property is also conveniently located near a variety of national retailers, including Walmart, Costco, Lowe's, and many others. This is a rare opportunity to acquire a high-performing, net-leased retail property with a strong tenant and significant upside potential.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Longitude

-89.8069

Latitude

35.0471

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments